Munich Re Group and UniCredit: Cooperation extended to CEE region
Munich Re, ERGO Insurance Group and Italian UniCredit have agreed to extend the existing cooperation in Germany, Austria and Poland to further growth markets in the Central and Eastern Europe (CEE) region.
The focus of the cooperation is on developing the distribution of ERGO’s life and non-life insurance products through the branches of UniCredit subsidiaries operating in Romania, the Slovak Republic, Slovenia, Hungary, Russia and, to some extent, Poland where cooperation with Bank Pekao’s existing partner will continue. In the medium term, the same types of cooperation will also be extended to Serbia, the Ukraine, Bosnia and the Baltic States. In this context, ERGO will set up a centralised hub for the supply of cost-efficient and effective services to support local operations.
With this agreement, which was approved by UniCredit’s Board of Directors yesterday, the two groups aim to implement a long-term partnership and create value for both parties, thus ensuring high quality standards for their clients.
signed Dr. Schneider signed Dr. Lawrence
This media information contains forward-looking statements that are based on current assumptions and forecasts of the management of Munich Re. Known and unknown risks, uncertainties and other factors could lead to material differences between the forward-looking statements given here and the actual development, in particular the results, financial situation and performance of Munich Re. The company assumes no liability to update these forward-looking statements or to make them conform to future events or developments.
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